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Rich people are leaving California. That's bad for the economy - Los Angeles Times

Even though California has experienced lopsided out-migration for decades, the financial blow has been cushioned by the kinds of people moving into the state: The newcomers were generally better educated and earned more money than those who left.Not now: That long-standing trend has reversed. New state-to-state migration data show that for several years, thousands more high-earning, well-educated workers have left California than have moved in.The reversal, largely in response to the state’s hi...

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